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Trader: Goldman Sachs ‘late to the party’ on downgrade

Amanda Diaz
Talking Numbers
Trader: Goldman Sachs ‘late to the party’ on downgrade

Goldman Sachs downgraded Toll Brothers from "buy" to "neutral". One trader says they're already too late.

Shares of Toll Brothers are flat today despite Goldman Sachs downgrading the homebuilder to "neutral" from "buy". This while the homebuilding sector is off by about 1% as measured using the Homebuilder Select Sector SPDR ETF (the XHB).

On CNBC's Street Signs' Talking Numbers segment, Jim Iurio, managing director at TJM Institutional Services, discusses the technicals on the industry. On the fundamentals is Pat Dorsey, president of Sanibel Captiva Investment Advisors, looks at the fundamentals.

To see what the technicals and fundamentals have to say about the homebuilder industry in general and specific stocks, watch the video above.

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